Account – means unique personified account registered in the name of the Client and which contains all of the Client’s transactions/ operations on the Trading Platform (as defined below) of the Company.
Ask - means the higher price in a quote. The price the Client may buy at.
Bid - means the lower price in a quote. The price the Client may sell at.
Execution - means the execution of Client orders by the Company acting as a broker and/or matched trader, for the Market Maker as per the terms of this Agreement.
KYC documents - means the documents to be provided by the Client, including without limitation to the a copy of the passport or ID and utility bill of the Client.
Market Maker - means any licensed entity for which the Company acts as a broker and/or facilitator, for the purposes of reception and transmission of orders placed by the Client, including without limitation to Smart Capital Ltd, a company with registered number 2314028 and registered office at 590 Madison Avenue, New York NY 10022, USA, with which the Company has entered into an agreement for the provision of liquidity and market making services under which the Company acts as a commission based broker for and on behalf of Smart Capital Ltd.
Operations – means actions performed at the Client’s Account, following an order placed by the Client,, connected with but not limited to crediting of funds, return of funds, opening and closing of trade transactions/positions and/or that relate to financial instruments.
Prices - means the prices offered to the Client for each and any transaction, such prices being based on the market rates provided by the Market Maker, and may be changed without prior notice. Where this is relevant, the prices given through the Trading Platform include the Spread (as defined below). The Prices specified are the prices the Market Maker and the Company, as a broker and/or matched trader, are ready to offer to the Client.
Services – means the services described in section 3 of this Agreement.
Spread - means the difference between the purchase price Ask (rate) and the sale price Bid (rate) at the same moment. For avoidance of doubt, a predefined spread is for the purposes of this Agreement assimilated commission.
Trading Platform - means an electronic system on the internet that consists of all programs and technology that present quotes in real-time, allow the placement/modification/deletion of orders and calculate all mutual obligations of the Client and the Company.